Live Ventures Incorporated Announces Third Quarter Fiscal 2017 Results
8:30 am ET August 10, 2017 (Globe Newswire) Print
Live Ventures Incorporated (NASDAQ:LIVE) ("Live Ventures" or the "Company"), a diversified holding company, today announced financial results from its third fiscal quarter, which ended June 30, 2017.
Highlights include:
-- Record sales of $41.37 million, up 107 percent
-- Gross profit up 233 percent to $16.9 million
-- Operating Income up 409 percent to $5.3 million
-- Year-to-date cash flow from operations of $8.8 million
-- Assets of over $125 million
-- 79,000 shares repurchased since inception of Company's share repurchase program through July 2017, reducing outstanding common shares to 2,010,413 as of June 30, 2017
-- Shareholders' equity grew by 5.49 percent during the quarter, to $16.22 per basic common share
All percentage changes are compared to the same period in the previous year, where appropriate.
"We could not be more pleased with our performance in this third fiscal quarter, as two of our subsidiaries each achieved a record month in June. Vintage Stock achieved record high EBITDA for any month of June since its inception. In addition, Marquis Industries set an overall sales record for that month," said Jon Isaac, CEO of Live Ventures Incorporated. "As we continue to seek out additional acquisition targets, we continue to track significant progress in terms of our financial success, which we believe translates to shareholder value."
The Company will also be holding a conference call to discuss the filing and answer investor questions today, August 10, 2017, at 4:30PM ET. Interested investors may participate in the conference call by dialing (877) 888-4291 (US domestic) or (785) 424-1878 (international) and providing the operator with the conference ID: LIVE VENTURES. In addition, details of the filing can be found on the United States Securities and Exchange Commission (SEC) website (www.sec.gov) or by visiting the investor relations section of the company's website at www.live-ventures.com.
